Conventionally known as compounds having an epoxy group and hydroxyl group are glycidol and the like.
However, these compounds have poor storage stability because they are unstable in the presence of a slight amount of an acid or alkali, so that the epoxy group readily reacts with a hydroxyl group and a polymerization reaction thus proceeds, and further, side reactions are apt to take place when these compounds are subjected to various reactions.
On the other hand, as another compound having an epoxy group and hydroxyl group, the compound ##STR4## is known.
However, although stable as compared with the above-described glycidol and the like, this compound has been unsuited for use in various applications because the following intramolecular reaction takes place. ##STR5##
This may be because the compound becomes stable in entropy due to the formation of the 6-membered rings within the molecule.
Further, since the above compound (II) is poor in flexibility, it poses problems when used in applications such as, for example, coating compositions.